Palumbo Wealth Management LLC Increases Position in monday.com Ltd. (NASDAQ:MNDY)

Palumbo Wealth Management LLC increased its holdings in monday.com Ltd. (NASDAQ:MNDY - Free Report) by 45.3% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,670 shares of the company's stock after buying an additional 1,145 shares during the period. Palumbo Wealth Management LLC's holdings in monday.com were worth $864,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in MNDY. Rhumbline Advisers lifted its position in monday.com by 4.6% during the fourth quarter. Rhumbline Advisers now owns 10,561 shares of the company's stock valued at $2,486,000 after purchasing an additional 465 shares during the last quarter. Blue Trust Inc. raised its position in shares of monday.com by 311.0% during the 4th quarter. Blue Trust Inc. now owns 1,311 shares of the company's stock valued at $309,000 after buying an additional 992 shares in the last quarter. Asset Management One Co. Ltd. lifted its holdings in shares of monday.com by 1.1% during the 4th quarter. Asset Management One Co. Ltd. now owns 13,018 shares of the company's stock worth $3,036,000 after acquiring an additional 148 shares during the last quarter. Van ECK Associates Corp grew its position in monday.com by 1.5% in the fourth quarter. Van ECK Associates Corp now owns 13,443 shares of the company's stock worth $3,165,000 after acquiring an additional 199 shares in the last quarter. Finally, Stonebridge Financial Group LLC bought a new position in monday.com in the fourth quarter valued at $25,000. Institutional investors own 73.70% of the company's stock.

monday.com Stock Down 4.3 %

Shares of MNDY traded down $13.76 during trading hours on Wednesday, reaching $308.27. 796,650 shares of the company traded hands, compared to its average volume of 1,155,321. monday.com Ltd. has a 12 month low of $174.75 and a 12 month high of $342.64. The company's fifty day moving average price is $255.03 and its two-hundred day moving average price is $266.39. The company has a market capitalization of $14.88 billion, a price-to-earnings ratio of 513.78, a price-to-earnings-growth ratio of 17.09 and a beta of 1.31.

monday.com (NASDAQ:MNDY - Get Free Report) last posted its quarterly earnings data on Monday, February 10th. The company reported $0.50 earnings per share for the quarter, missing the consensus estimate of $0.78 by ($0.28). monday.com had a net margin of 3.33% and a return on equity of 6.22%. On average, analysts expect that monday.com Ltd. will post 0.46 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on MNDY. Citigroup upgraded monday.com from a "neutral" rating to a "buy" rating and cut their price objective for the stock from $302.00 to $298.00 in a report on Thursday, January 16th. Loop Capital cut their target price on monday.com from $310.00 to $300.00 and set a "buy" rating for the company in a research note on Monday, December 23rd. Oppenheimer lifted their price target on shares of monday.com from $275.00 to $325.00 and gave the stock an "outperform" rating in a research note on Tuesday, October 22nd. William Blair reaffirmed an "outperform" rating on shares of monday.com in a research note on Wednesday, December 18th. Finally, Cantor Fitzgerald lifted their target price on shares of monday.com from $292.00 to $380.00 and gave the stock an "overweight" rating in a research report on Tuesday, February 11th. Four investment analysts have rated the stock with a hold rating and twenty have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $353.32.

About monday.com

monday.com Ltd., together with its subsidiaries, develops software applications in the United States, Europe, the Middle East, Africa, the United Kingdom, and internationally. The company provides Work OS, a cloud-based visual work operating system that consists of modular building blocks used and assembled to create software applications and work management tools.